Global Markets: Brazil’s Recession Expected To Worsen

By Commodity News Service Canada

WINNIPEG, December 7 – The following is a glance at the news moving markets globally.

ECONOMISTS REVISE OUTLOOK FOR BRAZIL’S RECESSION
Analysts now anticipate a worse recession in Brazil than previously thought after reviewing the country’s third-quarter GDP.

Many analysts expect Brazil’s GDP to fall by 2.31 per cent in 2016, compared with just last week when many expected a 2.04 per cent slow down, according to an economist poll by a Brazilian bank.

SOUTHEAST ASIA SEES ECONOMIC SLOWDOWN ON REDUCED CHINESE DEMAND
Data shows reduced demand from China and political instability are weighing on economies in Southeast Asia.

Singapore’s manufacturing sector reported a fifth straight month of contraction. Malaysia’s production saw the biggest slowdown in November since mid-2012.

Indonesia, Philippines and Singapore are all expected to see reduced growth into 2016, according to the Asian Development Bank.

GERMANY’S INDUSTRIAL OUTPUT INCREASES
Germany’s industrial output gained slightly up in October, according to the country’s economic ministry.

Industrial output expanded 0.2 per cent in October from the same time frame the month prior.

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